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Full Description
Sub-Saharan Africa (SSA) should not be defined by the structural parameters and opportunities of low-income countries, given that it also comprises a number of higher-income countries. This book finds that SSA is tightly constrained in its growth, employment and poverty outcomes. Rather than taking this as a conceptual downside, these constraints to growth and development have to be recognised and overcome—not just by a few countries able to escape them more easily, but by all countries in SSA, such that no country is left behind.
The book observes a weakness in the quantum of growth in SSA. It relates this to a growth path based more on extractives than manufactured goods. While SSA is endowed with extractives, global demand for these is very volatile. These boom-bust cycles in export demand come to affect not just the export sector in SSA as a resource curse, but also the production of output of the entire economy. The book captures this through the working out of equilibrium in four major markets: the tradeables market, the domestic goods market, the labour market, and the money market.
Contents
1. The Narrative.- 2. The Quantum of Growth.- 3. Drivers of Growth in Sub Saharan Africa.- 4. Sectoral Growth in Sub Saharan Africa.- 5. Deindustrialisation in Sub Saharan Africa Explains Key Vulnerabilities in Growth and Productivity.- 6. The Labour Market in Sub Saharan Africa.- 7. Poverty, Jobs and Growth: The Primary Policy Agenda for SSA.- 8. A Policy Agenda for the way forward in Poverty, Jobs and Growth in Sub Saharan Africa.
